Category: Economy, Gold Market
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How Gold Prices Are Calculated in Nigeria: Ounces, Grams and Karats Explained
Walk into a jewellery shop in Lagos, Kano or Port Harcourt and ask what gold costs, and you will get a price per gram in naira. Look at any international market feed and you will see a price per troy ounce in US dollars. Those two numbers are the same commodity, but getting from one…
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Unexpected turn: Gold sees increase after underwhelming private payrolls data
In a surprise turn of events, gold experienced a surge after the release of weaker-than-expected private payrolls data, according to a recent report by Reuters. Economists had previously forecasted robust data, but the actual figures showed a slowing growth in the employment sector, leading to increased uncertainty in the market. The implications of this slow…